Tag Archives: This Week

Monday Blog Round Up 10-8-2012

How Reality Shapes Words

Bit of Good News for Obama

Video: Good jobs news drives right to delusion

Tracking Polls Show Debate Bounce for Romney

Israel Launches Airstrikes After Attacks From Gaza

Ad Watch: Obama attacks Romney’s Libya response

Video: Mixed messages on voter ID as Pa. slow to obey court

Mary Matalin Calls Paul Krugman A ‘Liar’ For Telling The Truth

Mitt Romney Looks To Cut Into Obama’s Early Voting Advantage

Gingrich Concedes Romney Wasn’t Honest About His Tax Plan During Debate

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Filed under U.S. Politics

Olbermann On ABC’s ‘This Week’…

Former Current TV host Keith Olbermann. Screenshot via ABC.

Olbermann: ‘Almost deliberate’ gas price hikes are to hurt Obama

Liberal commentator Keith Olbermann on Sunday suggested that the price of gas had been artificially manipulated since President Barack Obama took office to hurt his chances at re-election. In an appearance on ABC, Olbermann noted he had become suspicious after gas prices increased from $1.61 a gallon when Obama took…

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Olbermann: Was the GOP ‘pro-dog meat eating’ before reading Obama’s book?

Former Current TV host Keith Olbermann appeared on ABC’s This Week for the first time Sunday morning, discussing the Republican Party’s strategy in recent years to accuse the Democrats of the same problem they face in a specific news cycle. Olbermann was among This Week‘s roundtable guests, which discussed Republicans…

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Krugman: Let Them Default-”I’m terrified by a blackmail political system”

Paul Krugman is usually on point and this time is no exception…

Democratic Underground

 

Crooks & Liars

Much pearl-clutching after the statement on This Week by Paul Krugman that the U.S. should allow the government to default on the debt limit rather than allow Republicans to hold New Deal social programs hostage. Former Deputy Treasury Secretary Roger Altman is quick to say he “respects” Krugman but disagrees. I’ll just bet you do, Roger!

And a “terrified” FDIC chairwoman Sheila Bair responds by urgently listing the potential effect on the bond market and institutional investors, of course completely missing the point: Would it be the Democrats’ fault — or that of the Republicans who are trying to impose their extremist and anti-democratic beliefs on the majority?

“I’m terrified by a blackmail political system,” Krugman responds.

He’s exactly right. It’s like paying protection to your local thugs to keep your windows from being broken. It’s not your fault for not paying, it’s their fault for threatening you.

MORE:
http://crooksandliars.com/susie-madrak/krugman-let-them…

 

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Filed under Paul Krugman

The Debt Ceiling Issue

Debt Ceiling 101

Question: What is the debt ceiling?

Answer: The debt ceiling is a statutory limit on the amount of U.S federal debt held by the public and the government’s own accounts. The debt ceiling became law with the Second Liberty Bond Act of 1917, which helped finance the United States’ entry into World War I.

Question:  What happens if The Congress votes not to raise the debt ceiling?

On This Week with Christiane Amanpour, Jake Tapper interviews Obama economic advisor Austan Goolsbee about the upcoming vote on the National Debt ceiling, and wonders what will happen if the new Republican Extremists successfully keep it from being approved.

Analysis:

There has been a lot of talk about “The Debt Ceiling” lately.  The Tea Party influenced GOP in congress want to place a limit on the out of control debt spending by capping the “debt ceiling”. 

Most Dems (and some Republicans of a more moderate stripe) want to follow the status quo and continue to raise the debt ceiling as borrowing expands.  The GOP want to cap the ceiling.

Of course, Washington being what it is, some GOP members wouldn’t mind voting in favor of raising the debt ceiling as long as Congress produces serious limitations on future spending.  That would mean Medicare and Social Security cuts will have to be in the offing.

Yes, that’s right!  They are playing their little blackmail game yet again, using Social Security and Medicare as the perineal sacrificial lambs in order to agree to raise the debt ceiling.  

Now, in all honesty, I do see a need for cutting the debt but the experts all agree that doing so would be catastrophic to the American economy as well as global economies.  Borrowing money to pay for tax cuts for the wealthy is not a problem for the GOP/Tea Party.  However, cutting entitlement programs to our country’s most vulnerable segment, senior citizens is in my opinion heartless.  There’s got to be a better way.

There are some serious GOP pundits like George Will and some Fox News pundits who totally disagree with capping the debt ceiling.

It’ll be interesting to see how this “game of chicken” plays out.

Lawrence O’Donnell of MSNBC’s The Last Word does a better job of explaining the consequences of not raising the debt ceiling than I ever could:

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Filed under GOP Agenda, GOP Radicalism, Government Debt, Government Spending